Protection of Benefits definition

Protection of Benefits. To the extent permitted by law, no benefits payable or account values under this contract are subject to the claims of creditors. No beneficiary may commute, encumber, alienate or assign any payments under this contract.
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Protection of Benefits. Unless otherwise provided in the supplementary agreement, the payee may not commute, anticipate, assign, alienate or otherwise hinder the receipt of any payment.
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Examples of Protection of Benefits in a sentence

  • Protection of Benefits, Seniority, Pensions .........................................................................................

  • However, the Maine Legislature passed An Act to Provide Continued Protection of Benefits for Retirees of the Maine Public Employees Retirement System on an emergency basis on June 17, 2009.

  • Protection of Benefits: A major concern is what would happen to retirement income program participant benefits if the service provider and guarantor failed to complete distribution commitments due to fraud, default, bankruptcy and other major event risk scenarios.

  • July 2006 By Fax & By Post Dear Sirs Protection of Benefits on Bankruptcy Under theM andatory Provident Fund Schemes Ordinance (Cap.

  • In turn, for the stated limit of O&M costs set by Decree No. 449 force CapEx to be roughly a quarter of thehighest acceptable value.

  • The only possibility for changing existing employees’ retirement benefits would be to have such employees voluntarily agree to plan changes.34 (ii) Constitutional Protection of Benefits Accrued to DateMichigan and Hawaii have state constitutional provisions that have been interpreted as protecting pension benefits accrued to date, mirroring the approach taken by the federal government.

  • Protection of Benefits in Case of Plan Merger In the event of a merger or consolidation with, or transfer of assets to any other plan, each participant will receive a benefit Immediately after such merger, consolidation or transfer (if the plan then terminated) that is at least equal to the benefit the participant was entitled to immediately before such merger, consolidation or transfer (if the plan had terminated).

  • Where an employee is redeployed into a lower graded post and they are a member of the Local Government Pension Scheme they may request that a Certificate of Protection of Benefits be issued by the Council, which will protect their pensionable position for up to 10 years; or that their previous benefits are frozen and kept separate from their new benefits.

Related to Protection of Benefits

  • Coordination of Benefits or “COB” means a provision establishing an order in which plans pay their claims, and permitting secondary plans to reduce their benefits so that the combined benefits of all plans do not exceed total allowable expenses.

  • Assignment of Benefits means an arrangement whereby the Plan Participant assigns their right to seek and receive payment of eligible Plan benefits, in strict accordance with the terms of this Plan Document, to a Provider. If a provider accepts said arrangement, Providers’ rights to receive Plan benefits are equal to those of a Plan Participant, and are limited by the terms of this Plan Document. A Provider that accepts this arrangement indicates acceptance of an “Assignment of Benefits” as consideration in full for services, supplies, and/or treatment rendered.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Schedule of Benefits means the section of this policy which shows, among other things, the Eligibility Requirements, Eligibility Waiting Period, Elimination Period, Amount of Insurance, Minimum Benefit, and Maximum Benefit Period.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Employment benefits means all benefits provided or made

  • Societal benefits charge means a charge imposed by an electric

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Termination Benefit means the benefit set forth in Article 7.

  • superannuation benefits means pensions, gratuities and other allowances payable on resignation, retirement or death;

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Resource Adequacy Benefits means the rights and privileges attached to the Facility that satisfy any entity’s resource adequacy obligations, as those obligations are set forth in any Resource Adequacy Rulings and shall include any local, zonal or otherwise locational attributes associated with the Facility.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Health benefits plan means a benefits plan which pays or

  • Retirement system means a retirement plan or system that is established by or pursuant to title 38.

  • Change in Control Benefits means the following benefits:

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Retirement Benefit means the benefit set forth in Article 5.

  • Claim for Benefits means a request for a Plan benefit or benefits made by a Member in accordance with the Plan’s Appeals Procedures, including any Pre-Service Claims (requests for Prior Authorization) and Post-Service Claims (requests for benefit payment).

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.